Debt in accounts?

Debt in accounts?

So I pulled my credit report yesterday and I have 8 collections (5 of which are medical), 1 should fall off this coming march, the other 2 Ipaid to delete. Now Im confused cause I have 3 accounts that are repoting bad debt and a $0 balance on them. They're not in collections, but WILL they be sent to collectons? They have not reported since January 2012. What should I do? Pay them off?

Re: Debt in accounts?

Reporting of a $0 debt balance by a creditor does not mean there is no longer a debt to pay.

It usually means that they no longer own the debt, and thus there is no debt owed to them. If they sell a debt, they are required to timely update its reporting so as to maintain its accuracy. However, the debt itself is still out there until paid.

There are often times when your CR will not show the amount of an unpaid debt. The party who purchased the debt can report at any time.

The amount reported by the debt collector will thus reflect both the amount they are authorized to collect and the amount of debt owed to them.

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FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation.
Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies.
Many factors affect your FICO Scores and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating.
FTC's website on credit.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.